February 15

What Color is the Rarest Diamond? | How Much Does it Add to Its Value?


Author: David Kopelman

Colored diamonds are by far the rarest gemstones in the world. They’re available in different quantities and have several popularity levels, which explains why their price and value differ significantly from one type to another. While I’ll concentrate on what color is the rarest diamond, I’ll also provide useful information about colored jewels in this article.

Key Takeaways

  • Also known as fancy reds, red diamonds are the rarest and most expensive.
  • Yellow and brown diamonds are the most common.
  • All expensive colored diamonds are naturally sourced from different mines in Brazil, Africa, and Australia.
  • Lab-grown diamonds are the most affordable alternatives available on the market.

What Color Is the Rarest Diamond?

Diamonds come in a massive array of colors, ranging from the most exotic pink, yellow, and blue to classic white and black diamonds. They’re among the most popular and valuable stones worldwide. The rarest naturally outsourced diamonds are the most valuable.

If your heart is set on owning a colored diamond, you should be prepared to spend a significant amount of money. Some diamond colors are rarer than others, which is why they're expensive.

Rare diamonds are unique stunning choices for your jewelry. So if you’re wondering what mined diamond is the rarest, and most expensive, the following sections have the breakdown.

various colors diamonds closeup

What Are the Rarest Types of Colored Diamonds?

Red Diamonds

When it comes to colored diamonds in the world, red diamonds are incredibly rare, which makes them stand above all other types of diamonds.

Unlike colorless diamonds and other fancy colored types whose color is ranked on a scale between fancy faint and fancy vivid depending on the intensity of the color, red diamonds are only graded as fancy. Researchers at different institutions, including the Gemological Institute of America (GIA), aren't exactly sure what leads to the formation of fancy red diamonds.

Fancy vivid colored diamonds like yellow and blue obtain their colors from naturally existing impurities available during the formation process. In terms of red diamonds, researchers speculate that their color originates from the diamond’s crystal structure changes.

The Argyle mine in Australia is the largest producer of the famous red diamonds. It produces more than 10 million carats of red diamonds per year. Africa and Brazil follow the Argyle mine in terms of red diamonds mined.

red diamond heart shaped

Blue Diamonds

After the red Argyle diamonds, blue diamonds are the most sought-after. They're rarer than orange diamonds but not as rare as pink and green diamonds. Blue diamonds obtain their color from boron impurities.

Aside from pure blue diamonds, green-blue diamonds are also available. Green-blue diamonds are formed as a result of radiation. On the other hand, hydrogen results in gray-blue or gray-violent diamonds.

Hope Diamond is one of the most famous blue diamonds in the world, with a projected value of $300 million per carat.

a blue diamond ring

Green Diamonds

A green diamond is the second rarest after a red diamond, and as a result, many experts examine them accurately to ensure they are genuinely mined and not lab-grown diamonds.

Most green diamonds obtain their color from natural radiation that occurs in the stones around them during the formation process. In most cases, only the surface area is green, as the color rarely makes it to the center.

a green diamond ring

Pink Diamonds

A pink diamond is also extremely rare and valuable. It’s so rare that only approximately 0.001% of all mined diamonds are pink. But why are most pink diamonds cheaply available?

If you find a cheap pink diamond, then you should know that it’s one of the lab-grown colored diamonds and not naturally occurring ones. Due to their natural rarity, a pink diamond is extremely expensive.

Graded in color as fancy vivid pink, Steinmetz pink diamond is the most famous pink diamond among both diamond collectors and enthusiasts. It obtained its fame from Steinmetz, a renowned pink star, who sold the pink diamond in 2007.

a pink diamond ring

What Are the Most Common Diamond Colors?

Yellow Diamonds

Yellow Diamonds are the most common. The color of true yellow diamonds varies between intense, vibrant yellow and dusky brown.

A fancy vivid yellow diamond is the most sought-after due to its bright hue. Also, this feature makes it the most expensive yellow diamond on the market.

Canary diamonds are categorized as fancy color diamonds, making them popular. All types of yellow diamonds, including light yellow diamonds, get their color from nitrogen traces.

a yellow diamond ring

Orange Diamonds

Orange diamonds are the second most common natural diamonds. Similar to most common colored diamonds like canary yellow diamonds, orange diamonds obtain their color from nitrogen.

For an orange diamond to be formed, the diamond crystal structure must have atoms aligned in a specific way. Only a few mines in Africa and Australia produce fancy vivid orange diamonds.

a orange diamond ring

Are Colored Diamonds More Valuable?

Fancy-colored diamonds are extremely rare, and that is why they're more valuable. Unlike colorless diamonds, colored diamonds don't need to have a specific carat weight or size in order to be more valuable.

The color is what determines the price per carat since it is the main factor. If a colored diamond has a strong and rare color, it can be significantly more valuable than colorless or white diamonds.

That is the main reason why fancy intense diamonds have a higher price per carat. Among the top ten valuable diamonds ever sold, only three were colorless, while the remaining ones were fancy intense color diamonds, including fancy purplish red, Hancock red diamond, fancy yellow, Graff pink, and green diamond.

Do Colored Diamonds Occur Naturally?

Lab-grown diamonds and natural diamonds can come in numerous colors, however, natural diamonds are rarer. South Africa, Australia, and India are popular sources of fancy diamonds.

Natural fancy diamonds have also been found in Indonesia, Guyana, Brazil, and Venezuela. Different mines from across the world may produce fancy deep, colored diamonds due to the soil structure and the composition of the rocks.

The composition of the rocks and chemical impurities nearby play a vital role in contributing to the diamond color.

How Are Colored Diamonds Priced?

Even though a colored diamond is very rare, accounting for less than 0.1% of all mined gemstones, there’s a wide array of diamond colors available at lower prices than fancy light or white diamonds.

When it comes to pricing, color, as well as basic economic concepts apply, including demand and supply. The supply, in this case, is controlled by the rarity of the color of the diamond and the difficulty of mining it.

In terms of demand, human nature impacts the trend, with diamond enthusiasts seeking what no one else possesses.

Are Colored Diamonds Real Diamonds?

Colored diamonds are real diamonds since they're completely authentic in all ways. It's easy to differentiate them from lab-grown ones because their colors are natural, having been developed within the rocks through nature.

Final Thoughts

Out of more than 100,000 diamonds mined, just a few of them have rare colors. The rarest natural diamonds are special pieces to add to your current collection, and their value is likely to increase over time.

Be sure to buy a certified colored diamond from a reputable seller, whether it's a blue diamond, a famous pink diamond, or a red diamond.

jewelry with various colors diamonds

FAQs about the Rarest Diamond

What is the Cheapest Diamond?

The cheapest diamonds are those that have gray and yellow colors. Fancy light, blue light, orange, and brown diamonds have middle-range prices.

How rare is a Black Diamond?

Fancy dark or black diamonds aren’t rare. While they have been around for a long time, they gained popularity in the late 20th century when people started to look for rings with unique gemstones.

Are Colored Diamonds More Valuable?

Colored diamonds are undoubtedly more valuable as long as they are natural. Seek help from experts if you want to purchase one to avoid buying a lab-grown diamond.

What Color Diamond is the Most Expensive?

Red diamonds are the rarest and most expensive. A red diamond is expensive since it possesses a distinct hue.

About the Author:

David Kopelman

In every article I write, I share my experience as a GIA Graduated Gemologist so that you learn everything about diamonds and other precious stones.

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